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By the numbers . Using the information on the web site for the Social Security Administration, calculate the monthly benefit for a worker who has 35 years of covered employment at an average wage of
(a) $1,500;
(b) $3,000;
(c) $7,500.
What percentage of earnings are replaced in each case?
Studies indicate that the price elasticity of demand for cigarettes is about -0.4.If a pack of cigarettes currently costs $2.0 and the government wants to reduce smoking by 20%, by how much should it increase the price
Pulp can be bought in the open market for $25 per ton. The marginal cost of converting pulp into paper is MC= 5 + 5Q, and the demand for paper is P = 135-15Q. Calculate the marginal cost of paper if the company produces its own pulp.
If the government uses taxation to deal with a situation, how would the various elasticities of supply and demand affect the deadweight loss of that tax? Explain using examples.
How difficult was it to come to a consensus on your team selection? Which potential team member was most difficult to come to a consensus about? Why?
A monopolist faces demand given by: P = 100 - 0.4Qd, and has marginal costs given by MC = 10 + 0.2Q a. draw the demand, marginal revenue and marginal cost curves. Calculate and show how much this firm will sell and what they will charge.
Discuss forecasting and explain why is it so important in the management of business firms and other enterprises also determine the different types of forecasting?
There are 300 purely competitive farms in the local dairy market. Of the 300 dairy farms, 298 have a cost structure that generates profits of $24 for every $300 invested. What is their percentage of rate of return.
suppose that businesses buy total of $ 130 billion of the four resources ( labor,land,capital, and entrepreneurial ability) from households. If households receive $ 72 billion in wages, $ 16 billion in rent, and $ 26 billion in interest
How would your policy have affected interest rates and real output during the period in question? What would be the benefit of your policies?
How does the income approach to measuring GDP differ from the expenditure approach Explain the meaning of value added and its importance in the income approach. Consider the following data for the selling price at each stage in the production
Given the discussion of the effects of fiscal policy in this chapter, what effect is a foreign fiscal expansion likely to have on foreign output, Y *, and on the foreign interest rate, i *? Given the discussion of the effects of monetary policy in..
suggest that autonomy and cultural regulation are more fundamental than the dichotomy between markets and plans in classifying systems?
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